In terms of revenue, the Antioxidants Market was valued at USD 2,243.8 million in 2014 and is estimated to reach USD 3,111.5 million by 2020, expanding at a CAGR of 5.6% over the forecast period. In terms of volume, the Antioxidants Market was valued at 75.5 thousand tons in 2014 and is estimated to reach 103.3 thousand tons by 2020, expanding at a CAGR of 5.3% over the forecast period.
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An antioxidant can be defined as a substance that prolongs the shelf life of food products by protecting them against deterioration caused by oxidation, such as fat rancidity and color changes. These substances are also called shelf-life extenders. Antioxidants are used as food, cosmetics and animal feed additives for various purposes such as to prevent damage to cells, and to reduce singlet oxygen.
There are two kinds of antioxidants- synthetic and natural. Both of these types are used in the feed industry. Antioxidants which are man-made, used to stabilize oil, fat and lipid-containing feed, and are mostly phenolic, are known as synthetic antioxidants. These phenolic derivatives contain more than one methoxy or hydroxyl groups. Ethoxyquin is the only heterocyclic and Nitrogen (N)– containing compound and is allowed for use in animal feeds. Natural antioxidants are those that exist naturally in food and feed ingredients. Natural antioxidants such as vitamin E, C and carotenoids help to reduce the risk of heart disease and cancer by inhibiting free radicals formation. In addition, natural antioxidants are used in cosmetics such as in anti aging products.
By technology, the Antioxidants Market is segmented into five categories: ultrasonic testing, radiography testing, electromagnetic testing, visual testing, and others (including magnetic particle testing and liquid penetrant testing). Based on end use industry, the Antioxidants Market has been segmented into power generation industry, oil & gas industry, aerospace and defense industry, automotive industry, and others (including plastic and polymer, and medical). Factors such as stringent government safety regulations for quality control, increasing demand to improve quality and longevity of the machines, and to ensure safety and reliable performance of the machines are driving the industrial controls market globally.
The global economic slowdown had very less impact on the global meat market and the market growth for feed additives will continue to improve in the forecast period. However, changing eating patterns are affecting the market growth regionally, due to changing diet patterns, urbanization, population and economic growth. The rising population is boosting the growth of the meat market worldwide. The above table depicts the population trends in the world‘s largest and fastest growing economies, where the demand for feed products is expected to rise rapidly with rise in the population. Due to the growing life expectancy and a robust agriculture sector, the demand for feed antioxidants in the global meat industry is expected to grow in the forecast period. India and Brazil are amongst the world‘s fast growing economies, with continuous increase in the per capita income. This may cause a standard shift changing dietary preferences. However, meat consumption patterns are expected to vary in different parts of the world due to cultural, religious and other consumer preference factors. Owing to these factors, the growing demand for feed antioxidants is expected to influence the growth of the overall Antioxidants Market.
Antioxidants are used in food products to preserve nutrients, flavor and freshness thereby preventing food wastage and extend overall shelf life. In many situations, two or more antioxidants are used in food products to enhance food quality protection. Commercial products are made with preservatives to preserve freshness for a longer time and keep them free from bacteria. Antioxidants help to prevent oxidation of food containing fat or oil from going rancid. It prevents the browning of vegetables, cut fruit and fruit juices and increases their shelf life. For example, vitamin C, which is also known as ascorbic acid helps to recycle vitamin E. Ascorbates such as vitamin C, helps to remove oxygen through self oxidation process.
Key players have been profiled with attributes such as company details, financial overview, key developments, historical roadmap, and strategy and future roadmap in the field of antioxidants. Key players in the Antioxidants Market include ADM, Aland (Jiangsu) Nutraceutical Co., Ltd, Kemin Industries, BASF, DuPont, Kalsec Inc., Cargill Incorporated, Koninklijke DSM N.V., Vitablend Nederland B.V.Naturex S.A and Nutreco N.V. among others.
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